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(CBC News) An Ontario judge has ordered the seizure of more than $7 million worth of bank accounts and property belonging to Iran, in a historic ruling that will turn over the assets to victims of militant groups that it bankrolled. Ontario Superior Court Judge David M. Brown ordered the liquidation of two of Iran's Canadian bank accounts and a pair of properties that operated as ostensible Iranian cultural centers. Joseph Cicippio, an administrator at the American University of Beirut who was abducted in 1986 and held for five years by militants from Hizbullah, and Edward Tracy, a bookseller living in Beirut who was abducted the month after Cicippio, will share a Scotiabank account containing $1.65 million and a Royal Bank account with 330,000 euros ($511,220). Both accounts were held in the name of the Iranian Embassy in Ottawa.2014-03-25 00:00:00Full Article
Canadian Court: Turn Over Iranian Assets to Terror Victims
(CBC News) An Ontario judge has ordered the seizure of more than $7 million worth of bank accounts and property belonging to Iran, in a historic ruling that will turn over the assets to victims of militant groups that it bankrolled. Ontario Superior Court Judge David M. Brown ordered the liquidation of two of Iran's Canadian bank accounts and a pair of properties that operated as ostensible Iranian cultural centers. Joseph Cicippio, an administrator at the American University of Beirut who was abducted in 1986 and held for five years by militants from Hizbullah, and Edward Tracy, a bookseller living in Beirut who was abducted the month after Cicippio, will share a Scotiabank account containing $1.65 million and a Royal Bank account with 330,000 euros ($511,220). Both accounts were held in the name of the Iranian Embassy in Ottawa.2014-03-25 00:00:00Full Article
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